Affordable townhomes at Lowry

The Lowry Community Land Trust, a nonprofit organization created to provide affordable housing, will start construction this year on Falcon Point Townhomes. The 72 two- and three-bedroom units will range in price from $138,000 to $150,000. The townhomes, near Lowry Boulevard and Alton Way, will range in size from 1,200 to 1,500 square feet and include two-car garages. Buyers must qualify through the Lowry Community Land Trust.

Mercy Housing gets $20,000 grant

Mercy Housing in Denver will receive a $20,000 grant to implement the economic development component of resident programs in its affordable housing properties. Mercy Housing is one of four organizations to receive a total of $85,000 from the CREW Foundation nationwide. CREW Foundation is the philanthropic arm of the Commercial Real Estate Women Network.

Historic renovations

The historic Officers’ Quarters at Lowry will be redeveloped into 10 single-family homes priced from the low $800,000s.

St. Charles Town Co., in partnership with New Communities and Premier Urban Development, started renovation of the first home this month. Renovations include removing numerous interior walls because the homes are now duplexes. The contemporary interiors will feature 3,100 square feet of space, three bedrooms, flex room and glass-encased porches. All have mountain views on 10,000- to 14,000-square-foot lots.

Mortgage rates turn upward after 6-week drop

Rates on 30-year mortgages, after falling for six weeks, edged up slightly this week as investors anticipated another rate hike from the Federal Reserve, according to a national survey released Thursday. Mortgage giant Freddie Mac said its survey showed rates on 30-year, fixed-rate mortgages rose to 6.12 percent, up from 6.10 percent last week. Below are average mortgage rates in Denver, Adams and Arapa- hoe counties as of Thursday and the previous 52 weeks. The one-year Treasury bill average reported by the Federal Reserve is 4.43 percent. The Cost of Funds Index for November from the Federal Home Loan Bank (11th District) was 3.190 percent.